Private sector lender Axis Bank. has raised interest rates on fixed deposits of less than 2 crores. The bank made this announcement on 16 June 2022 and as a result of the interest rate revision, the bank increased the interest rates on fixed deposits of one to five years.
Axis Bank FD Rates
The bank will offer an interest rate of 2.50 percent and 3 percent on fixed deposits of 7 days to 29 days and 30 days to 3 months. Axis Bank will continue to offer interest rates of 3.50 per cent and 4.40 per cent on fixed deposits maturing in 3 months to 6 months and 6 months to 9 months. Deposits maturing in 9 months to less than 1 year will continue to earn 4.75 per cent interest, but deposits maturing in 11 days from 1 year to less than 1 year will attract 5.45 per cent interest, which is an increase of 20 basis points.
The bank increased the interest rate on fixed deposits maturing in 1 year 11 days to 5.75 per cent from 5.25 per cent, an increase of 50 basis points. Axis Bank will now offer an interest rate of 5.60 per cent with an increase of 35 basis points on deposits maturing in less than one year, 25 days to 15 months, from 5.25 per cent earlier. Deposits maturing from 15 months to less than two years will now see a payout of 5.60 per cent instead of 5.30 per cent, an increase of 30 basis points.
Axis Bank has increased the interest rate on fixed deposits maturing in 2 years by 10 basis points from 5.60 per cent to 5.70 per cent, while the interest rate on deposits maturing in 5 years to 10 years has remained stable. 5.75 percent.
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Axis Bank FD Rates for Senior Citizens
Senior citizens will get interest rates ranging from 2.50 percent to 6.50 percent on fixed deposits of 7 days to 10 years. Senior citizens will get an interest rate ranging from 6.10 per cent to 6.35 per cent after the hike in interest rate on deposits maturing in more than one year to more than five years. Axis Bank is now offering a maximum interest rate of 6.50 per cent on deposits of 5 to 10 years to older persons.
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During this, HDFC bank Interest rates on fixed deposits have also been increased today. Effective June 17, 2022, HDFC Bank is now offering interest rate on deposits of less than 2.75% – 5.75% to general public and 3.25% – 6.50% to senior citizens. 2 crore